Ethereum Suffers 3rd Straight Weekly Outflows, Becomes 2024’s Worst Performer
Summary
Ethereum faced a $61 million outflow last week, possibly due to delayed approval of a spot Ethereum ETF. The upcoming July 4th launch is highly anticipated but could also cannibalize Bitcoin ETF investments. Despite this, the US saw $43 million in inflows, indicating regional divergence. Investors are also showing interest in altcoins like Solana and Litecoin, suggesting a maturing market. The digital asset market is cautiously optimistic, with the upcoming Ethereum ETF launch being a potential catalyst for further adoption or reshuffling of existing investments.
